Coinbase has received regulatory approval from the UK's Financial Conduct Authority (FCA) to offer cryptocurrency services, marking a significant milestone for the exchange. This approval allows Coinbase to provide both trading and custody services for retail and institutional investors across the country, solidifying its position as the largest registered digital asset provider in the UK.

The FCA's endorsement comes after Coinbase's compliance with stringent regulatory requirements, a process that has been challenging for many crypto firms. With this registration, Coinbase can now operate directly without intermediaries, enhancing its service offerings to UK customers. The approval also signifies a shift in the UK's regulatory landscape, which has previously been cautious regarding cryptocurrency operations.

Keith Grose, CEO of Coinbase UK, emphasized the importance of this registration for the company's expansion plans and its mission to onboard more users into the crypto space while prioritizing security and compliance. The move is expected to foster innovation within the crypto sector and improve accessibility for users, as Coinbase aims to lead in promoting economic freedom through digital assets.